Question

    What does the term "NEFT" stand for in the context of

    Indian banking?
    A National Electronic Fund Transfer Correct Answer Incorrect Answer
    B National Economic Financial Transaction Correct Answer Incorrect Answer
    C Non-Exempt Fund Transfer Correct Answer Incorrect Answer
    D New Electronic Fund Tracker Correct Answer Incorrect Answer

    Solution

    NEFT is a nation-wide electronic fund transfer system in India that facilitates one-to-one funds transfer. It operates on a deferred net settlement basis, which means transactions are processed in batches and settled at fixed intervals.

    Practice Next
    More Accounts Questions

    Relevant for Exams:

    Hey, Don't leave. If you have any queries regarding any exam let us know here.

    ask-question